Oil prices mixed; Brent flat, US crude up as Iran keeps Hormuz shut ahead of Trump deadline
Why it matters: The Trump deadline could trigger a military confrontation with Iran, impacting global oil supplies and regional stability.
- Oil markets are "leaning further into a prolonged disruption scenario" as Iran keeps the Strait of Hormuz shut ahead of a Trump deadline, with Brent crude flat and US crude up.
- President Trump has threatened that "A whole civilisation will die" ahead of his Iran deadline, even as "Iran talks show glimmer of progress."
- Trump also vowed to find a "leaker" who publicized the search for a second downed airman in Iran, according to Defense One.
- Pakistan has proposed a two-week Iran ceasefire ahead of the Trump deadline, as reported by Axios.
Oil prices are mixed, with Brent flat and US crude up, as markets brace for a "prolonged disruption scenario" amid escalating tensions and an impending Trump deadline concerning Iran. Despite eleventh-hour negotiations showing a "glimmer of progress," President Trump has issued dire threats, stating a "whole civilization will die" if his demands are not met, while also vowing to find a "leaker" who publicized a search for a downed airman.
